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Wall Street Is Gushing Over Palo Alto Stock After Earnings Crushed Estimates

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Wall Street is gushing over Palo Alto stock, after earnings crushed estimates

Most Wall Street analysts were optimistic about Palo Alto Networks stock going into its second-quarter-earnings report Tuesday. The cybersecurity company delivered. Palo Alto stock is soaring after it beat the Street’s expectations and raised guidance. The back story: Last month, Wedbush Securities analyst Daniel Ivesraised his rating for Palo Alto to Outperform from Neutral, citing positive feedback from his checks with technology buyers.

standalone, userAgent=window.navigator.userAgent.toLowerCase, safari=/safari/.test, ios=/iphone|ipod|ipad/.test; var context=""; if { if { context='browser'; } else if { context='standalone'; } else if { context='uiwebview'; }; } else { context='not_iOS'; }; return context; } What’s new: On Tuesday, Palo Alto crushed Wall Street profit expectations and reported fiscal second-quarter adjusted earnings per share of $1.51 versus the $1.22 consensus.

 

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